Conductiv™ announced today announced they have signed a Conductiv Contracts™ supplier agreement with SpendMend, a leader in healthcare cost cycle management. Conductiv Contracts™ is a first-of-its-kind GPO that works alongside any primary GPO and accelerates the time for organizations to source, negotiate and implement contracts with third-party or purchased services providers. Membership is free and open to all organizations regardless of primary GPO affiliation.
SpendMend was selected as a founding partner based on their consistent ability to drive value back to hospitals as well as on their long-standing mission to help hospitals improve patient care through the delivery of innovative cost savings solutions, insightful transaction analysis, and improved visibility across business relationships. Now, one of three flagship services are available from Conductiv (formerly Medpricer) the leading end-to-end third-party lifecycle improvement company across multiple industries including healthcare, hospitality, government, and more.
“In today’s tenuous environment, U.S. hospitals are searching for solutions to stop financial leakage with minimal impact to their operations,” states Anna Ormiston, Senior Director, Strategic Sourcing & Data of Conductiv. “Our partnership with SpendMend sets the tone for everything we hope to accomplish with Conductiv Contracts™ in our pursuit to drive maximum value back to clients across healthcare and other industries.”
“Everything about the Conductiv business model is appealing to SpendMend,” says Al Brander CSO of SpendMend and former CNO at a Top 10 U.S. hospital. “They have proven to be an innovative firm by delivering software and deep analytics to an antiquated space; they are addressing an area that has long been ignored by GPO’s, and, at the end of the day, they offer a massive value to the hospital.”
In addition to the Conductiv Contracts™, Conductiv’s integrated third-party services optimization suite consists of:
- Conductiv Platform™, a sophisticated, purpose-built procurement automation platform powered by artificial intelligence and machine learning.
- Conductiv Services™, a sourcing service that brings in more than 15 years of proven strategic sourcing results.
SpendMend delivers visibility, insights and optimization to the cost-cycle for over 250 hospitals and health systems. For 25 years our goal has been to uphold the highest ethical and moral standards, while helping hospitals improve patient care through our delivery of innovative cost-savings solutions, insightful transaction analysis, and improved visibility across business relationships.
ConductivTM, formerly Medpricer, empowers supply chains to optimize their third-party services. As the only end-to-end third-party lifecycle improvement company, ConductivTM shares its strategic sourcing expertise and category best practices with multiple industries including healthcare, hospitality, government, real estate, transportation and education. The company has led more than 700 bids for more than 120 organizations, exceeding $4 billion in contracted value. Member projects have generated $800 million of documented savings or an average savings value of 24% to date. To learn how supply chains are transforming their savings strategy, visit Conductiv.com.